This paper investigates the relationship between the main features of business cycles and the institutional and structural characteristics of countries of up to 62 industrial, emerging and formerly centrally planned economies from all continents. We derive the business cycle characteristics...

This paper investigates the relationship between the main business cycles features and the institutional and structural characteristics of countries in which they are observed. We derive the business cycle characteristics of the individual countries using the nonparametric Harding-Pagan...

This paper examines how differences in state foreclosure laws influence the incidence of default in the residential mortgage market. In particular, we examine how judicial review requirements, lenders’ recourse rights (deficiency judgments), and state assistance programs for distressed...

Many credit line agreements contain restrictive covenants and other contingencies that may limit the ability of borrowers to draw on their lines, which is a particular concern to small firms. This Economic Letter reviews recent empirical studies that suggest that private firms’ access to...